PTTEP has acquired a 50% interest in Block A-18 of the MTJDA, enhancing its gas production capabilities and supporting Thailand's energy security.

Target Information

The target of this acquisition is Block A-18, located in the Malaysia-Thailand Joint Development Area (MTJDA). PTTEP, through its subsidiary PTTEP Joint Development SG PTE. LTD., has successfully acquired a 50% participating interest in this block, which is vital for Thailand's energy security. This block is known to have substantial natural gas resources, which are essential for electricity generation, particularly in Thailand's southern region. The acquisition includes the purchase of 100% of the outstanding shares of Hess International Oil Corporation, a subsidiary of Chevron, which previously held this interest.

Block A-18 currently produces 600 million standard cubic feet of natural gas per day (MMSCFD), with half of that supply going to Thailand. This amounts to supplying 6% of the domestic gas demand in the country, making it a significant asset for PTTEP.

Industry Overview

The Malaysia-Thailand Joint Development Area is a strategically significant region for energy production, particularly in natural gas and condensate resources. Covering approximately 7,250 square kilometers, the MTJDA is c